Wormhole Foundation Challenges LayerZero’s $110M Stargate Acquisition Proposal
The Wormhole Foundation has entered a bidding war for Stargate Finance, contesting LayerZero's $110 million acquisition offer as undervaluing the cross-chain bridge protocol. LayerZero's proposal, which requires 70% approval from STG token holders, offers $0.1675 per STG token in exchange for ZRO tokens.
Wormhole argues Stargate's treasury—holding $92 million in assets, including $76 million in stablecoins—and its recent performance metrics justify a higher valuation. The protocol processed $4 billion in bridge volume in July 2025, a tenfold annual increase, with $348 million in total value locked across 80+ chains.
LayerZero maintains its pricing reflects Stargate's backing of $0.14444 per circulating token, setting the stage for a governance showdown.
